We have given G-SAP 1.0 a distinct character, say RBI's Das & Patra

We are giving up this discretion to give an explicit assurance to the markets that we will assist them in the conduct of the borrowing programme, said Patra

The Monetary Policy Committee (MPC) decided to keep policy rates unchanged in the first bi-monthly monetary policy of 2021-22. Additionally, the Reserve Bank of India (RBI) announced a secondary market G-Sec acquisition programme (G-SAP 1.0), under which the RBI has committed Rs 1 trillion in the first quarter. GOVERNOR SHAKTIKANTA DAS, DEPUTY GOVERNOR MICHAEL DEBABRATA PATRA, DEPUTY GOVERNOR M K JAIN, and EXECUTIVE DIRECTOR T RABI SANKAR took questions from the media. Edited excerpts:

What is the rationale behind G-SAP 1.0?

Das: It is different from the usual open market operation (OMO) calendar. We have given it a distinct character. This programme